Page 10 - UP PR REPORT - AUGUST 2025

Press Release

ServeU, a subsidiary of Union Properties, acquires House Keeping
(LLC) at AED 100 million deal to expand market reach

Dubai, UAE – August 6 , 2025 – Union Properties PJSC (“Union Properties” or “the
Company”) (DFM: UPP), through its subsidiary ServeU, a leading facilities management

(FM) solutions provider in the UAE, has announced the strategic acquisition of House Keeping
(LLC) and House Keeping Domestic Workers (LLC), including their subsidiary, in a deal valued

at AED 100 million.

This move reinforces ServeU’s robust market position as one of the UAE’s most trusted FM
service providers in the country. With a workforce of more than 8900 employees, the company

manages a broad portfolio spanning residential communities, commercial complexes,
government entities and hospitality facilities. The Company remains committed to advancing
operational capabilities, with continued investments in innovation, sustainability, and service

excellence to address the dynamic needs of the market.

Eng. Amer Khansaheb, Chief Executive Officer and Board Member of Union Properties

PJSC, said: “This acquisition represents a pivotal step in advancing our long-term growth
agenda. Integrating a leading manpower and domestic workforce provider into our portfolio
not only strengthens ServeU’s operational breadth, but also reinforces our commitment to

delivering integrated, people-centric solutions that meet the evolving demands of our clients
across sectors.”

House Keeping (LLC), the UAE’s second-largest provider in its segment, brings a strong
portfolio, deep domain expertise, and an extensive client network. With a specialized
workforce of 136 active members in housekeeping operations and nearly 8,700 domestic

workers, House Keeping (LLC) has consistently delivered strong performance, recording
revenues of AED 221.1 million and an EBITDA of AED 21.4 million for the fiscal year 2024.
These financial results align closely with ServeU’s strategic priorities of delivering value,

enhancing service quality, improving operational efficiency, and advancing workforce
capabilities.

Under the terms of the acquisition, House Keeping (LLC) and its affiliated entities will retain
their brand identities while operating under the full ownership and strategic oversight of
ServeU. The alliance is projected to have a positive impact on ServeU's financial results